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It’s that time of year when Christmas lights twinkle, Michael Bublé reappears from hibernation, and business owners across the UK ask the same question: “Can I claim the work Christmas party on the business?” The answer is…Yes! Well, sometimes. It depends who’s coming, how much you’re spending, what type of business you have, and crucially whether HMRC thinks you’ve been naughty or nice. Grab a mince pie and let’s unwrap the rules around staff parties, clients, suppliers, pa

If you’ve ever wondered whether you’re an Owner, Director, Founder, CEO… or all of the above depending on your mood, you’re definitely not alone. Business titles can be confusing, especially when you’re running a small business and wearing every hat from marketing to accounts to chief tea-maker. Different titles mean different things, and some have specific legal definitions that aren’t always obvious. This week, we’re breaking down the most common business titles, what they

If you buy and sell second-hand items, whether that’s cars, jewellery, antiques, collectables, or even the bits you flip on Vinted, you might have stumbled across something in HMRC’s rulebook called the VAT Margin Scheme. If you’re first thought is “Absolutely not, that sounds complicated”… Stick with me, because the margin scheme can genuinely save you money, keep you compliant, and stop you from paying VAT you don’t actually owe. Let’s break it down. So, what is the VAT Mar

If you’ve ever poked around your accounting software, spotted something called a Balance Sheet , and immediately clicked away… you’re in good company. For a lot of small business owners, the balance sheet feels like the most confusing report of the bunch. A mysterious list of numbers that seems to have nothing to do with the day-to-day running of your business and might require mental gymnastics to comprehend. Once you understand what it’s actually showing you, the balance sh